Chapter 7 and Chapter 13 each have their own seasoning clock, and it varies sharply by program. Here's how soon you can buy in Cohoes.
From discharge date, with re-established credit.
Of satisfactory payout, plus Trustee approval.
The longest standard-program wait.
Shorter, with a reduced max LTV if recent.
The historic “Spindle City” at the meeting of the Mohawk and Hudson, now a value-friendly spot for first-time buyers. Converted mill lofts and affordable rowhomes sit near Cohoes Falls and a reviving downtown. A bankruptcy doesn't close the door on buying in Cohoes — the wait is shorter than most people assume, especially with FHA or VA.
Full FHA, VA, Conventional, USDA, SONYMA, Non-QM, Jumbo, and Land Loan detail lives on the Buying After Bankruptcy page — here's the quick comparison.
| Program | Chapter 7 | Chapter 13 |
|---|---|---|
| FHA | 2 years | 1 year + Trustee approval |
| VA | 2 years (12-23mo w/ extenuating circumstances) | 1 year + Trustee approval |
| Conventional | 4 years | 2 years (4 if dismissed) |
| USDA | 3 years (case-by-case 12-36mo) | 12 payments + Trustee approval |
| SONYMA | 2 years | Manual UW, 43% DTI cap |
| Jumbo | 4-7 years | 4-7 years |